Tellabs Inc. (NASDAQ: TLAB) is trading up sharply after the telecom equipment maker said that first quarter earnings were $0.11 EPS, higher than the $0.09 estimate from Thomson Reuters. Revenue was also up by about 5% at $379.7 million versus $371.5 million expected.
At 9:02 AM EST we have shares up about 10.5% at $9.08 on over 600,000 shares.
Average volume is 6 million shares and the preior 52-week trading range is $4.71 to $8.61.
This is not just 52-week highs, but multi-period highs. It appears that the last time shares were over $9.00 was in October 2007.
JON C. OGG